HY$ : AUTHORIZED TRADERS TERMS AND CONDITIONS
YSLife Ltd operates a virtual world platform known as YSLife, and makes available for use in YSLife a virtual token or virtual “currency” element (referred to as “HY Dollars”) intended solely for use to access virtual objects in YSLife, and affiliated websites operated by YSLife Ltd. YSLife Ltd hereby authorizes certain Traders (each as approved in advance by YSLife’s Authorized Traders application process) (each a “Trader”) to trade HY Dollars solely through Trader’s website(s), in-world automated teller machine(s) (“ATMs”) or other in-world transmittal mechanisms , in accordance with these Authorized Trader Terms and Conditions (the “Terms”) set forth below. 1.Trader shall complete and provide to YSLife Ltd an application containing relevant corporate and identifying information, including Trader’s presence of activities in YSLife. Trader’s appointment and continued authorization by YSLife Ltd as an authorized Trader is conditioned on Trader providing prompt, complete and accurate answers to such application and any other such related inquiries as may be requested by YSLife Ltd from time to time. 2.Trader, and not YSLife, shall be responsible for: (a)Accounting: Trader shall maintain for a period of at least three (3) years books and records sufficiently indicating actual sales of HY Dollars, and customers to whom they were sold. (b)Managing Fraud: Trader shall take commercially reasonable steps to prevent and deter credit card and similar types of fraud, which may include, for instance, employing anti-fraud solutions and software. Upon learning of any significant instance of credit card fraud or other illegality relating to the YSLife platform, Trader shall promptly notify LYSLife Ltd. ©Customer-Facing Services: It is Trader’s role to provide all customer service and support to their Customers, related to Customer purchases of HY Dollars from Trader. YSLife Ltd shall have no responsibility for support or contact with Trader’s Customers with respect to any resale transactions. However, YSLife Ltd will in its sole discretion provide support and consulting to Trader as necessary. (d)Customer Agreement: Trader shall enter into an enforceable agreement with each Customer (i.e. an online “click-through” agreement) that contains provisions at least as protective of YSLife’s rights as these Terms (a “Customer Agreement”). The Customer Agreement, which shall at all times be posted and accessible on Trader’s website, shall (a) expressly prohibit further resale of HY Dollars, except on the YSLife platform, (b) make YSLife Ltd a third party beneficiary to the Trader’s Customer Agreement, © explicitly state that YSLife Ltd is not a party to the Customer Agreement, and (d) state that Trader is not an agent, affiliate or employee of YSLife Ltd. 3.Payment of Taxes: To the extent that any sales by Trader of HY Dollars may be subject to a sales, value-added, use or any other tax, Trader shall ensure that such tax is collected and remitted. 4.Trader’s purchases of HY Dollars on YSLife website are not eligible for refund by YSLife Ltd, nor are HY dollars “redeemable” by YSLife for cash or any other value. 5.Trader agrees to indemnify, defend and hold harmless YSLife Ltd, its affiliates, agents or employees (each an “Indemnified Party”) from and against any cost, loss or expense (including reasonable attorney’s fees) resulting from any demand, or any civil, criminal, administrative, or investigative claim, actions, or proceeding (including arbitration or mediation) brought, asserted, commenced or threatened against each such Indemnified Party (“Claim”) by third parties, regardless of the merit of such Claim, for loss, damage or injury allegedly caused by any breach of a representation, warranty or covenant of Trader’s obligations under these Terms, or of any law or regulation or right held by any third party, by the Indemnifying Party, its agents or employees. 6.Trader will, at its own expense, maintain insurance coverage at levels that are in accordance with industry standards. Insurance carriers will be rated “A-” or better by A.M. Best or its European (or as applicable, other global) equivalent. Trader will provide, upon written request by YSLife Ltd, certificates of insurance evidencing the appropriate coverage. 7.Trader agrees that it shall: (a) abide by all applicable laws and regulations; and (b) perform its obligations hereunder in a professional manner consistent with industry standards reasonably applicable to the performance thereof. 8.Trader shall be in compliance at all times with the YSLife Terms of Service, Privacy Policy, and all other policies referenced in or through those documents, incorporated herein by reference. 9.YSLife Ltd reserves the right, in its sole and absolute discretion, to revise, revoke, or terminate the Authorized Trader program, these Terms, or the authorization of any Trader hereunder with or without prior notice; provided, however, that material changes to these Terms will not be applied retroactively. If any future changes to these Terms are unacceptable to the Trader or cause the Trader to no longer be in compliance with these Terms (as then amended), the Trader must terminate this agreement with YSLife Ltd and immediately stop using the rights granted to authorized Trader hereunder. Continued use of your Trader Account following any revision to these Terms constitutes your complete and irrevocable acceptance of any and all such changes. 20.In accordance with YSLife Terms of Service, YSLife Ltd may suspend or terminate your Account(s) (as defined therein) for violation of these Terms. Category:HY$ Category:Economy Category:Currency Trading